Why Centene Stock Dropped 40% — And Whether It's a Buy Now

Centene TodayCNCCentene$33.06 -0.25 (-0.75%) 52-Week Range$32.99▼$80.59P/E Ratio4.93Price Target$68.87Add to WatchlistFor healthcare stock Centene NYSE: CNC, July 2 was indisputably disastrous. Shares closed down by over 40% that day, resulting in the firm losing over $11 billion in market capitalization. Close competitors were not spared either. Molina Healthcare NYSE: MOH dropped 22%, and Elevance Health NYSE: ELV fell over 11%.Get Centene alerts:So, what caused Centene to see one of the largest single-d ...